Structural Steel Market forecasts regional growth by Leading Manufacturers POSCO, voestalpine, ArcelorMittal, Severstal, Tata Steel, British Steel, Erdemir, Nucor Corporation
U.S. structural steel market size from commercial application will witness significant gains of over 5%. Growing prefabricated buildings has led to increased consumption of product supported by regulations to reduce emissions and use of recycled material will contribute towards regional product demand.
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Growing awareness among consumers owing to benefits including design flexibility, faster completion and energy efficiency of prefabricated building projects using heavy and light sized products is anticipated to drive demand of structural steel products. Increase of infrastructure development projects in China, Japan, South Korea and India with improving standards of living and necessities for sanitation are likely to stimulate product demand.
Global steelmakers are offering tailored building solutions that enable low-carbon-neutral and energy-efficient buildings. These solutions reduce ecological impact over the structures’ lifespan and help to extend their life expectancy through design for reuse and disassembly, thus propelling the market.
Structural steel industry size from industrial application may reach up to 125 million tons by 2024. Rise in consumer awareness towards green construction material by further reducing greenhouse gas emissions will favor product demand.
Heavy capital expenses in mining process, infrastructure capabilities, expensive fireproof treatment and corrosion will restrict industry profitability, thus affecting structural steel market price trends. Moreover, it being an exceptional conductor of heat, damages material in contact and causes fires which quickly spreads to further segments of building which may bound industry growth.
- Structural Steel Market By Application
o Health Buildings
o Energy Development
o Station & Hangers
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Structural steel industry size from energy development application is anticipated to surpass 45 million tons by 2024. Optimizing costs and risks of installing large offshore platforms and different construction strategies have been developed including the use of the product, thus stimulating product demand.
Structural steel exhibits excellent ductility, high strength, seismic resistance, and speed of erection. Rising application scope in non-residential applications including healthcare buildings, data centers, institutions, airports, offices and stadiums is projected to foster product demand. Increasing emphasis on technological development will facilitate faster manufacturing process with uniformity, user-friendly procedures to reduce quality issues will boost industry growth.
Light sectional structural steel segment is anticipated to be over 110 million tons in the projected timeframe. It has eminent usage in residential and small building manufacturing owing to its light weight, and quick building ability without using heavy tools or equipment. Manufacturers are engaged in developing cost-efficient equipment with low environmental impacts which will foster market growth.
Regional Growth drivers are
• North America - Growing Steel consumption and increasing residential housing units
• Asia Pacific - Growing infrastructure and increasing number of skyscrapers
• Europe - Growth in Residential and Non-Residential infrastructure
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ArcelorMittal S.A.
2. Shagang Group Company Limited
3. Hesteel Group Company Limited
4. Nippon Steel & Sumitomo Metal Corporation
6. VISA Steel
7. Steel Authority of India Limited
8. Anyang Iron & Steel Group Co., Ltd.
9. Baosteel Company
10. Tata Steel
11. China Steel Corporation
12. Novolipetsk Steel
13. Evraz Group
14. Hyundai Steel Co., Ltd. (HSC)
15. Wuhan Iron & Steel (Group) Corp.
16. Shaaban Group
17. Gerdau Steel India Pvt. Ltd.
18. Steel Limited
19. Maanshan Iron and Steel Company
20. Nucor Corporation
21. Nanjing Iron & Steel United Co., Ltd.
22. Erdemir Group
23. Hunan Valin Iron & Steel Group Co., Ltd.
24. HBIS Group Co. ltd
25. JFE Steel Corporation
26. Voestalpine AG
28. SSAB AB
29. Liberty OneSteel Manufacturing
30. Gunung Steel Group
31. Jindal Steel and Power Ltd.
32. Salzgitter AG
33. Stahlwerk Thuringen GmbH
34. AFV Acciaierie Beltrame SpA
35. Duferdofin-Nucor Srl
36. Riva Fire SpA
37. Celsa Cia Espanola de Laminacion SL
38. British Steel
39. POSCO SS Vina
40. AK Steel Holding Corporation
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